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The United States and Somalia reached an agreement on Tuesday for Washington to cancel more than US$1 billion in debt owed by the troubled Horn of Africa nation. The announcement came a day after the parliament in Somalia, which is heavily dependent on international aid, approved a US$1.36 billion national budget for 2025. Somalia is […]
Good morning Well hello, Australia, and welcome to the third-last sitting week of the parliamentary year. I just learned that the word for that is “antepenultimate”. Prime minister Anthony Albanese joined South Australian premier Peter Malinauskas yesterday to kick off what some are referring to as the election campaign. When we’re all distracted by the […]
Why Young People Are in So Much Debt Source link
Economist Dawie Roodt warns that writing off residents’ debt may encourage nonpayment and financial irresponsibility. Writing off residents’ debt in the City of Tshwane is not a good plan as it may promote a culture of nonpayment, according to economist Dawie Roodt. This week, the Tshwane council passed a report to write off debt to […]
Rachel Reeves has been warned her plans could lead to the crumbling of Britain’s economy. Ms Reeves confirmed on Thursday (October 24) a technical change in the way she would measure progress against the Labour Government’s debt management target. Nick Winters, a partner at Blick Rothenberg, warned taxpayers would still be on the hook as […]
ISLAMABAD – Federal Finance and Revenue Minister Senator Muhammad Aurangzeb hailed China’s positive response on Pakistan’s request to extend debt repayment periods for projects under the Belt and Road Initiative (BRI). In an interview with Bloomberg, on the sidelines of the annual meetings of the International Monetary Fund (IMF) and World Bank, Aurangzeb said that […]
China’s plans to issue special government bonds to help local governments get their debts under control as it pushes them to pay their overdue bills gave Edward Zeng, the founder of a tech start-up, a glimmer of hope this month because he has been waiting for payment for years. In 2019, Zeng’s tech company was […]
article Borrowers who serve in the public service sector and government are eligible for this forgiveness. (iStock ) Another 60,000 student loan borrowers will receive student loan relief in the coming weeks. The Biden Administration announced $4.5 billion in relief for public service workers such as nurses, teachers and social workers. The relief comes as […]
In terms of post-pandemic growth, as well as labour productivity growth, the US has left Europe and even China in the dust. Yet, that is only part of the story. The US is not only the leading global economy, it is also dominating global borrowing and spending. Source link
The International Monetary Fund (IMF) has raised significant concerns about the global public debt situation as it prepares for its annual meetings in Washington D.C. starting October 21, 2024. The IMF projects that global public debt will exceed $100 trillion by the end of 2024, reaching approximately 93% of global GDP. This milestone marks a […]